In theory, money that had to be loaned to a monarch, on the monarch's instruction. However, forced loans were often seen as an extra-parliamentary form of taxation.
Forced loans
Fact of the Day
Elizabeth I could cost her hosts so much on her visits that some tried to shut up their houses and stay away to prevent it. This did no good for the earl of Lincoln: Elizabeth broke into his Chelsea residence, had a feast, and then charged the bill to Lincoln.
Quote of the Day
"I have no political ambitions for myself or my children.
"
~ Joseph P. Kennedy
On This Day
1586 American colonists arrived in Plymouth with large quantities of tobacco. Smoking caught on quickly, though it was also used in tea.
1694 The Bank of England was founded by an act of parliament as a way to finance government debt by private subscription.
1943 The concentrated Allied bombing of Hamburg led to a three hour firestorm that killed approx 30,000 civilians.